Chapter: 3

Credit Management Approval and recovery

3. Introduction

Comprehensive risk management is a core competence of EBL. EBL take a prudent and

conservative approach to risk that is fully aligned with their long-term strategy. The risk

framework combines centralized policy setting with board oversight supported by risk

execution and monitoring. It provides management with the ability to oversee the bank’s

large and highly diversified portfolio effectively and efficiently.

EBL’s risk management systems are designed to identify and analyze risks management

processes by establishing a credit risk management policy, credit underwriting standards,

and credit risk rating methodology. It also established a Credit Risk Management

Division, which is independent from relationship management units to ensure proper

controls on its lending.

3.1 Procedures of granting credit

A credit review process is needed to ensure that a business does not grant credit to customers who are

unable to pay. The credit department handles all credit reviews. The department may receive paper copies

of sales orders from the order entry department, documenting each order requested by a customer. In this

manual environment, the receipt of a sales order triggers a manual review process where the credit staff

can block sales orders from reaching the shipping department unless it forwards an approved copy of the

sales order to the shipping manager.

The order entry procedure for a manual system is outlined below.

1. Receive sales order. The order entry department sends a copy of each sales order to the credit

department. If the customer is a new one, the credit manager assigns it to a credit staff person. A

sales order from an existing customer will likely be given to the credit person already assigned to

that customer.

2. Issue credit application. If the customer is a new one or has not done business with the company

for a considerable period of time, send them a credit application and request that it be completed

and returned directly to the credit department. This may be done by e-mail to speed the

application process.

3. Collect and review credit application. Upon receipt of a completed sales order, examine it to

ensure that all fields have been completed, and contact the customer for more information if

some fields are incomplete. Then collect a credit report, customer financial statements, bank

references, and credit references.

4. Assign credit level. Based on the collected information and the company’s algorithm for granting

credit, determine a credit amount that the company is willing to grant to the customer. It may

also be possible to adjust the credit level if a customer is willing to sign a personal guarantee.

5. Hold order (optional). If the sales order is from an existing customer and there is an existing

unpaid and unresolved invoice from the customer for more than $___, place a hold on the sales

order. Contact the customer and inform them that the order will be kept on hold until such time

as the outstanding invoice has been paid.

6. Obtain credit insurance (optional). If the company uses credit insurance, forward the relevant

customer information to the insurer to see if it will insure the credit risk.

7. Verify remaining credit (optional). A sales order may have been forwarded from the order entry

department for an existing customer who already has been granted credit. In this situation, the

credit staff compares the remaining amount of available credit to the amount of the sales order,

and approves the order if there is sufficient credit for the order. If not, the credit staff considers a

one-time increase in the credit level in order to accept the order, or contacts the customer to

arrange for an alternative payment arrangement.

8. Approve sales order. If the credit staff approves the credit level needed for a sales order, it

stamps the sales order as approved, signs the form, and forwards a copy to the shipping

department for fulfillment. It also retains a copy.

9. File credit documentation. Create a file for the customer and store all information in it that was

collected as part of the credit examination process.

3.1.1Procedure of Application for loansThe party seeking a secured advance against any acceptable security must make an application to the branch where he maintains his operative account. Disbursement may be allowed only after getting a limit sanctioned by the authorized officials.Conducting preliminary study: The credit proposal should be evaluated on the basis of the following documents and parameters:

 Borrower's application Reports in confidence regarding the state of business of the intending borrower through

available means. Report from Bangladesh Bank CIB regarding the applicant's status of

borrowings/exposure with other banks. Statement of accounts of the borrower with own and other banks. Statement of assets and liabilities ( in detail) .:. Balance sheet/profit & loss accounts (in

'case of limited company) for 3 years. Memorandum & Articles of Association.

Approval of limit:The sanctioning authority on receipt of the proposal shall scrutinize the same and ensure that:

       The proposal bears all pertinent information relating to the advance and the borrower.       All necessary papers/documents have been enclosed with the proposal duly checked and

verified by the branch.       The proposal has been duly recommended.       The proposal does not fall within the existing credit            restrictions.       Minimum margin requirement against the advance is proposed.       The primary security has got easy marketability, durability and storability.       Valuation of the property offered as collateral security is judiciously assessed by the

engineer and branch manager as per proforma circulated by Head Office.       The intending borrower is not a defaulter of the Bank/other banks including DFIs.

3.1.2 Processing of Application for CreditThese documents are the main contents of the application form for opening Savings or Current account in EBL:

For individual:

1) Name of the Applicant(s)

2) Father’s/ husband’s Name 3) Present Address 4) Permanent Address 5) Number, Date of issue, Date of Expiry & Place of Issue of Passport (if any)

6) Date of Birth 7) Photocopy of Voter ID Card (Both the Party and Nominee)

8) Occupation 9) Nominee (s) 10) Special Instruction of Operation of the Account (if any)

11) Initial Deposit 12) Specimen Signature (s) of the Applicant (s) 13) Introducer’s Information (Name, Account Number, Specimen Signature) 14) Two copies of photographs of the Account Holder (s) duly attested by the Introducer 15) One copies of photograph of the Nominee duly attested by the Account Holder In case of Join Account, bank needs these two contents too: a) Operation instruction of the account. b) Signature. 64 Then, in Partnership Account a) Partner’s Signature.

b) Partner’s Name. Again, In case of Minor’s Account ,

1. Putting the word “MINOR” after the title of the account. 2. Recording special instruction of operation of the account. 3. The account opening form is to be filled in and signed by either of the parents or the legal guardian appointed by the Court of Law & not by the Minor. After fulfilling the above formalities, I submit those forms to the bank; then bank generally opens an account against the account user & provides the customer a pay-in-slip book. Then Bank sends Letter of thanks to Account Holder(s) and Introducer to be sent under registered post to verify the address of the account holder. Risk areas in Account opening are 1. Account holder’s identification: If account holders provide fake national identification number (NID) or fake passport. It might be risk for bank. 2. Source of income: Legal income source must. If account holder’s source of income illegal then money laundering must.]

3.1.3 Credit Approval

Credit approval authority to the proper body and/or executive is a precondition for ensuring smooth

and transparent credit operation in the Bank. Since inception, credit approval authority has been

delegated to different tiers of both the Board of Directors and the Management. Authorities who

enjoy delegation of business power i.e credit approval authority are as follows:

1. The Board of Directors

2. The Executive Committee of the Board

3. The Managing Director

4. Executives working as head of Branches.

Credit Approval Authority

Credit approval authority may be delegated to the following body/Executive:

1. The Board of Directors

2. The Executive Committee of the Board

3. Different tier of the Management

The Board of Directors: The Board of Directors will have the authority to sanction any loan for the

amount not exceeding the regulatory limit the Bank can provide to a single customer. Besides, all

proposals for waiver of interest, commission, charges etc and principal must be approved by the

Board of Directors. Any proposal for reduction of rate of interest by more than one percent from

minimum level of approved interest rate band must be approved by the Board.

The Executive Committee of the Board: The Executive Committee of the Board of Directors may

sanction any loan for the amount not exceeding the regulatory limit the Bank can provide to a single

customer. However, it will not have the authority to approve any proposal for waiver of interest,

commission; charges etc and principal must be approved by the Board of Directors. Any proposal

for reduction of rate of interest by one percent or less from the minimum level of approved interest

rate band may be approved by the Executive Committee of the Board. Any proposal beyond the

delegated authority of the Managing Director will be placed before the Executive Committee of the

Board for approval.

The Management: Different tier of the Management may be delegated credit approval authority to

ensure timely disposal of the credit proposals at root level. In the Management, the following

executives may be delegated credit approval authority:

1. The Managing Director

2. The Deputy Managing Director supervising Credit Division

3. Executives working at Credit Risk Management Unit, Credit Division

4. Executives working as Head of Branches

Composite Limit

Credit Limit to a single customer comprising of more than one facility/product will be treated as a

Composite Limit. Different tier of the Management may be delegated authority to sanction a

composite credit limit to a customer which the respective executive will exercise after complying

with all preconditions set in different chapters of this policy document and in the relevant circulars in

force. Specially, any executive having delegated authority to sanction a composite limit will exercise

this provided that the subject composite limit is covered by collateral security having forced sale

value which is at least 1.25 times of the total funded limit. However, the executives having approval

authority may sanction following facilities without taking collateral security within their authority:

SOD (FO), SOD (WO), SOD (EM), SOD (EDF), SOD (CI), FDBP, IDBP, Bid Bond and the

Managing Director may sanction following facilities without taking collateral security within his

authority: SOD (FO), SOD (WO), SOD (EM), SOD (EDF), SOD (CI), FDBP, IDBP, LIM, LTR and all

non-funded facilities. Different tiers of the Management may be delegated the following authority for

approving composite credit limit:

Fig. in Lac Tk

Sl.        

No

Designation Authority to be delegated

Maximum Total

Funded Non-funded

1. Managing Director 250.00 300.00 300.00

2. Deputy Managing Director 200.00 250.00 250.00

3. Senior Executive Vice President 150.00 200.00 200.00

4. Executive Vice President 100.00 150.00 150.00

5. Senior Vice President 75.00 100.00 100.00

6. Vice President 50.00 80.00 80.00

7. Senior Assistant Vice President 40.00 60.00 60.00

8. Assistant Vice President 25.00 50.00 50.00

Credit Risk Management (CRM) Department

The Credit Risk Management Department shall perform the following duties:

a)           Assess risks inherent in the credit proposal sent by Corporate Division and also evaluate

proposed facility pricing based on risks, security, structuring and terms and conditions to suit the

business condition and to protect Bank’s interest.

b)           Compliance to the existing rules and regulations of the Bank and all regulatory authorities

and laws of the country and to advise the Corporate Division for rectification, if required.

c)           Advise the Corporate Division about changes, if required, in the structure and terms and

conditions of the proposed facility.

d)           Process credit proposal for approval of the competent authority.

e)           Issue sanctions advice for credit facilities or decline.

f)            Maintain Limit Sanction Register.

g)           Review the performance of the customer on Off-site Basis and prescribe appropriate

remedial measures, if required until the loan account becomes a “Special Mention” one.

h)           Review/revise risk grading of the customer from time to time based on the “Early Alert

Report” and Downgrade Proposal submitted by Corporate Division.

i)             Handover loan to the Recovery Department as and when it is degraded to Special

Mention or below.

3.1.4 Distribution of Credit

Personal Loan of Eastern Bank:

Sharing makes life perfect to make solution of personal Loan. There must

have been many occasions when you have had some money and needed

some more for some specific purpose. EBL Personal loan is the right Product

for you, where you give some and we share the rest with you – making life

simple for you. Eastern Bank believes in relationship building and focuses on

sustainable and long term growth – both for the bank, its clients and the

community it operates in. Despite the constant threat of the global economic

recession and its subsequent effect on the Bangladesh. Eastern Bank

launched many products the Personal Loan is one loan product. Eastern

Bank knows its target customers and as such offers new products and

services to cater to their contemporary taste and need of Personal Loan. In

the past couple of years the Bank came up with several exciting products

and service propositions. We wish for so many things in life be it a little get

away from the daily monotony, be it decorating the home, be it securing our

child’s future by sending her overseas for studies, and so many other things.

Wow, there is a chance for you to make these wishes come true. Any person

agree to get loan then he or she are apply to EBL’s and they get easy to their

urgent requirement full fill, EBL’s are many branch of Bangladesh, for this

reason most of the people are apply to their requirement Personal Loan.

 

Features of Personal Loan of Eastern Bank:

● Personal loan facility for any Consumer Needs.

● Loan Amount Ranges from BDT 200,000 to BDT 1,000,000 or 10 times of

Gross Monthly Income, whichever is lower

● EMI Based Loan Repayment Facility

● Repayment tenure of 12 months to 60 months

Available in Two Versions of Personal Loan :

● EBL Personal Loan 30- where you provide 30% of the applied Loan

Amount in the form of EBL FD; for example for a loan amount of 10 Lac, you

need to provide BDT 3 lac as security.

● EBL Personal Loan 50- where you provide 50% of the applied Loan

Amount in the form of EBL FD; for example for a loan amount of 10 Lac, you

need to provide BDT 5 lac as security.

● Attractive Loan Interest Rates

● Automatic realization of Monthly Installments

● One personal Guarantor needed; spouse can stand as a guarantor

● Early Full and partial settlement allowed

● Minimal documentations

● No hidden charges

● Shortest Loan Processing Time

 

Eligible of Personal Loan Customers:

● Any credit worthy individuals like:

● Salaried Executives: Minimum 2 year experience with 6 months

employment with present employer

● Self Employed Professionals / Businessmen: Minimum 2 years’

experience

Age Limit of Personal Loan:

● Minimum: 22 Years

● Maximum: 60 years (For Salaried), 65 Years (For Others)

Minimum Gross Monthly Income of Personal Loan:

● Salaried Executives: BDT 30,000

● Self Employed Professionals/Businessman: BDT 40,000

● Joint applicant allowed; Combined Gross monthly income should be

minimum BDT 40,000 per month

 

EBL Home Loan

EBL introduces the most convenient & practical Home Loan that suits your all home financing needs. Let it be for apartment purchase, home construction, extension or renovation - EBL is here with the ultimate solution for you. With so many attractive features in it - the home you wanted to buy, or to extend the existing one or renovate the same is no

longer a distant dream.

Features

Eligible Customers

Home Loan for the purpose of

Loan Amount Ranges from BDT 500,000 to BDT 10,000,000 (or 50 times of Gross Monthly Income, whichever is lower)

Competitive interest rate

No Processing fee for Take over home loans from other Banks/ Financial Institutions

Repayment tenure of up to 20 years

Automatic realization of Monthly Installments

Early full and partial settlement allowed

Shortest Loan Processing Time

Interest Rate: 14% pa.

» Flat/Apartment Purchase

» House construction / Extension / Renovation / Up-gradation/ Face uplifting / Finishing work

» Takeover of existing home loan from any bank / Financial institution

Property Features

Small Segment Loan Products

EBL Asha

To be repaid within maximum 24 months (Next loan is repayable within 60 months)

EBL Mukti

Credit facility up to BDT 300,000 (three lac) in any legitimate business

EBL Nobodoy

Loan for agro based industry, loan amount minimum BDT 2,00000 - maximum BDT 70,00000.

EBL Projukti

Any credit worthy individuals with a minimum of three (3) years experience like:

Age:

Minimum Gross Monthly Income:

Joint applicant allowed; Combined Gross monthly income should be minimum BDT 40,000 per month.

Loan facility for both Lease hold and free hold properties.

TPA (Tri Partite Agreement) allowed for up to 18 months from the date of the loan disbursement

» Salaried Executives: BDT 30,000

» Professionals/Self Employed: BDT 40,000

» Businessman: BDT 50,000

» Minimum : 25 Years

» Maximum : 65 years

» Salaried executives

» Self Employed : Doctors, Architects, Engineers, Chartered Accountant and Certified Consultant & IT Professionals

» Businessperson

» Landlords

Loan will be extended to the owners up to 15 bighas cultivable land /7.5 bighas for potato & sugarcane cultivation

3.2 Credit monitoring and recovery

3.2.1 Credit Monitoring

While financial institution have faced difficulties over the years for a multitude of reasons, the major cause of serious banking problems continues to be directly related to lax credit standards for borrowers and counterparties, poor portfolio risk management or a lack of attention to changes in economic or other circumstances that can lead to a deterioration in the credit standing of a bank’s counterparties. Credit risk is most simply defined as the potential that a bank borrower or counterparty will fail to meet its obligations in accordance with agreed terms. The goal of credit risk management is to maximize a bank’s risk-adjusted rate of return by maintaining credit risk exposure within acceptable parameters. Banks need to manage the credit risk inherent in the entire portfolio as well as the risk in individual credits or transaction. Banks should also consider the relationship between credit risk and other risks. The effective management of credit risk is a critical component of a comprehensive approach to risk management and essential to the long term success of any banking organization.

The sound practices set out in the document specially address the following areas:

Establishing an appropriate credit risk environment

.Operating under a sound credit granting process.

Maintaining an appropriate credit administration, measurement and monitoring process.

Ensuring adequate controls over credit risk.

To establish an appropriate credit risk management EBL maintains followings values:

The Board of Director has the responsibility for approving and periodically reviewing the credit risk strategy and significant credit risk policies of the bank. The strategy reflects bank’s tolerance for risk and the level of profitability the bank expects to achieve for incurring various credit risk.

Senior management has the responsibility for implementing the credit risk strategy approved by the Board of Directors and for developing standard policies and procedures for identifying, measuring, monitoring and controlling credit risk. Such policies and procedures address credit risk in all the bank’s activities and at both the individual credit and portfolio levels.

Banks identify and manage credit risk inherent in all products and activities. Banks ensure that the risk of products and activities new to them are subject to adequate procedures and controls before being introduced or undertaken and approved in advance by the Board of Directors or its appropriate committee. In order to streamline risk control features in a more effective manner, UCBL has put in place in Standard Operating Procedure (SOP) in line with internationally accepted best practices.

3.2.2 Credit Recovery

To maintain an appropriate credit administration, measurement and monitoring process EBL maintains following values:

The bank has in place a system for the ongoing administration of various credit risk bearing portfolios. Dedicated independent risk management units like credit risk management units, credit administration department, credit monitoring ad recovery department, internal audit division are developed for those purposes. Dedicated

committee at management level has been set up to monitor risk viz. credit risk through credit review committee and risk management units.

The bank has in place a system for monitoring the condition of individual credits, including determining the adequacy of provision and reserves. For NPL provisioning and write off the guidelines established be Bangladesh Bank for CIB reporting, provisioning and write off of bad doubtful debts and suspension of interest are followed in all cases.

The bank has in place a system for monitoring the overall composition and quality of the credit portfolio. All credit extensions must comply with the requirements of the bank’s memorandum and articles of the association, Bank Company Act, 1991 as amended from time to time, Bangladesh Bank’s instruction circulars, guidelines and other applicable laws, rules and regulations, Ban’s credit risk management policy, credit operational manual and all relevant circulars in force. Any deviation from the internal policy of the bank must be justified and well documented. The portfolio shall always be well diversified with respect to sector, industry, geographical region, maturity, size, economic purpose etc. Concentration of credit shall be carefully avoided to minimize risk.

To minimize investment losses, monitoring procedures are system should be in place that provide

an early indication of the deteriorating financial health of a customer. At a minimum the following

are looked into.

Past due principal or profit payments, past due trade bills, account excesses, and branch of

investment covenants.

Investment terms and condition are monitored, financial statements are received on a regular basis,

and any covenant breaches or expectation are referred to IRM and the RM team for timely follow-

up.

Timely corrective action is taken to address finding for any internal, external or regulator audit.

All customer relationship facilities are reviewed and approved through the submission of an

investment management at least annually.

Exception to be followed up on the corrective action taken in a timely manner before the account

deteriorates further.

3.3 Summary of the findings

Findings

During my internship period I have some findings related with Credit appraisal & credit

management system of Prime Bank Limited. The findings are shown in parts of credit appraisal,

credit recovery and credit default.

Findings on Credit appraisal

EBL uses credit appraisal technique comprising technical, market, financial, economic, and

management & organization analysis.

Credit appraisal technique is good enough itself, but the problems lie with personnel involves in

appraisal process

The main problems can be summarized in the following way:

One of the problems with credit appraisal is inadequate and inaccurate data.

Sponsors always tend to overstate their future cash flow, revenue and income and understate

the risk with capturing market and expenses.

Market don’t remain same over the years especially over the time gap between loan sanction

and loan recovery.

Lengthy procedure and long time involved in the appraisal of project

Sometimes, there is pressure groups’ involvement in sanctioning loan.

Many viable projects do not get sanctioned loan due to absence of bribe and pressure from

political and other pressure group.

The personnel involve in project appraisal are either not quite expert in their respective field or

corrupt.

Physical verification is not rigorously done for every project that is why the project appraisal

techniques do to bring any outstanding results.

Sometimes, the amount of loan sanction is more than that is required by the project because of

over invoicing from the part of sponsors.

Findings about the Credit Recovery

Usually EBL inform the borrowers before 7 days of the scheduled date of payment about his/her

next upcoming installment due.

Visiting to the borrowers premises is hardly done before the loan is defaulted.

The recovery department cannot coerce or make bound to repay the loan because of pressure

from political and other higher management.

Sometimes sponsors do like to linger the repayment time to have the replacement facilities.

The recovery amount has been increasing for last 5 years, and the variance between recovery

targets.

Findings about Credit Defaults

The causes of the loan defaults are:

o Willing defaults

o Government policy, sometimes, causes a firm to stop business operation or due to

changes in the government policy a firm may incur loss.o Due to market changes firms may not get buyers to sell production resulting in a no

sale, no cash, and no repayment.o Technological change may also lead a firm to incur losses because of obsolete

technology cannot compete with modern technology resulting in less cash generation.o Sometimes, project is not implemented because the shortages of fund from the part

of borrower.o Lack of financial commitment from the part of borrower the result is the failure of

mobilization of equity. They divert their equity in other purposes after getting the loan amounto Default amount shows a down-ward trend during 5 years

o Law department functions very slowly and follow a difficult bureaucratic process.

o After enactment of the, the legal action has got speed and the number law suits have

increased.o Most of the cases settled outside the court.

o There are some problems of taking over the company, like maintenance of the

property and selling the property.o It takes time to settle a suit, because the borrower has right to writ against the

verdict.

Analytical Findings

ü  Throughout credit analysis of Eastern Bank Limited some mentionable results are found-

ü  Bank is doing well in its credit operation. The amount of interest earning shows the success.

ü  The bank’s Net Interest Margin is in the decreasing trend.

ü  EBL has good credit ratings. That is a plus point for it.

ü  Strong financial condition helps the bank to be a market leader.

ü  From regression analysis it has shown that loan amount of the bank is inversely related with

Interest rate.

ü  EBL is mainly focusing on Industrial credit beside other type of credit.

Recommendations

A banker cannot sleep well with bad debts in his portfolio. The failure of commercial banks occurs

mainly due to bad loans, which occurs due to inefficient management of the loans and advances

portfolio. Therefore any banks must be extremely cautious about its lending portfolio and credit

policy. So far Eastern Bank Limited has been able to manage its credit portfolio skillfully and kept

the classified loan at a very lower rate —thanks go to the standard and stringent credit appraisal

policy and practices of the bank.

But all things around us are changing at an accelerating rate. Today is not like yesterday and

tomorrow will be different from today. Given the fast changing, dynamic global economy and the

increasing pressure of globalization, liberalization, consolidation and disintermediation, it is

essential that Eastern bank limited has a robust credit risk management policies and procedures

that are sensitive to these changes.

Eastern bank Limited has an efficient & excellent credit management team and performing with

great expertise and care. There are some limitations that can be overcome by some measures to

make the performance outstanding. There are some suggestions for prime banks credit

management team from my observation.

In credit management, it is conventional that proposals of credit facilities must be supported by a

complete analysis of the proposed credit. More importance should be given on refund of loans out of

funds generated by the borrower from their business activities (cash flow) instead of realization of

money by disposing of the securities held against the advance, which is very much uncertain in

present context of Bangladesh, where a number of creditors are willful defaulters.

For commercial lending, most of the time clients are unable to submit audited financial

statements. The reason is no legal bounding to prepare audited financial statements for all

commercial organization. So the credit officer has to face difficulties about the reliability of financial

statements submitted. So there should be some flexibility for proprietorship concerns.

Credit officer measures the risk associated with the credit facility. He should not be liberal in this

respect; he should strictly follow the credit evaluation principle setup by the bank. It should improve in

file management system to faster the dealings with the client’s proposal.

On the basis of that Return on Equity (ROE) model, risk and return of the bank is analyzed.

Prime Bank has a good return in the following years from its operation. But Bank should be careful in

its riskiness. It should improve its liquid assets to reduce the liquidity risk. It should also try to increase

its reserve.

Conclusion

Researchers support the fact that economic and financial development of a country are highly

correlated to the development of its banking and financial system. The more developed and

efficient the banking sector of a country is, the more developed is the business industry sectors will

be.

With a view to improving the quality and soundness of loan portfolio, credit risk management

methods were updated in 2005. The Bank is now applying a new system of credit risk assessment

and lending procedures by striker separation of responsibilities between risk assessments and

lending decisions and monitoring functions. The Bank monitors its exposure to particular sectors of

economy on an ongoing basis. The Bank has undertaken the changes in policy of credit risk

management, credit risk administration and credit monitoring and recovery in line with the

guidelines of Bangladesh Bank, formulated in the last year.

Credit Appraisal system of this bank is pretty efficient. From the beginning of the process of credit

appraisal system the credit committee is sufficiently committed and caring. After received loan

application from the client, in-depth study of various related documents & gathering of information

from different banks and other sources are performed. The loan proposal that is prepared by the

credit officer and submitted to the higher authority for approval is the most important part of credit

appraisal system because based on this proposal the granting of credit decision is made. Credit

collection process of PBL is also strict and satisfactory.

We hope that EBL will lead by example by continuing its efficient lending policy in keeping the

bank’s financial performance indicators at above industrial average and contribute to country’s

economic development-thus attaining a middle income status in the world.